DENVER (AP) -- Natural gas and oil company QEP Resources Inc. said Tuesday that Charles Stanley, its president and CEO, will now also serve as chairman of its board.
Stanley has been CEO of the Denver-based company since 2010. He replaces the company's non-executive chairman Keith Rattie, who has served in that role since 2010 and will continue to serve as a director of the company.
QEP also announced that Dr. M.W. Scoggins, president of the Colorado School of Mines and a retired 34-year veteran of Exxon Mobil Corp., will become a lead independent director on its board. Scoggins has been a director of QEP Resources and its predecessor company since 2005.
Shares of QEP Resources fell $1.15, roughly 4 percent, to $27.49 in early afternoon trading Tuesday. Its shares are 17 percent above their 52-week low of $23.56 set last October. They traded as high as $45.20 in late July.